{"id":4445,"date":"2026-07-12T10:03:50","date_gmt":"2026-07-12T10:03:50","guid":{"rendered":"https:\/\/durhammovinghub.com\/?p=4445"},"modified":"2026-07-12T10:03:50","modified_gmt":"2026-07-12T10:03:50","slug":"the-war-driving-up-gas-prices-isnt-the-one-you-think","status":"publish","type":"post","link":"https:\/\/durhammovinghub.com\/?p=4445","title":{"rendered":"The war driving up gas prices isn\u2019t the one you think"},"content":{"rendered":"

If you thought gasoline prices were moving higher this week, you\u2019d be right.\u00a0<\/p>\n

But why there were upward pressures on prices may surprise you.<\/p>\n

It\u2019s true that prices in the United States had fallen about 17% to under $3.80 nationally from their mid-May peaks into the Fourth of July holiday, and the big reason for the decline was that the United States and Iran seemed interested in bringing their conflict to a halt.<\/p>\n

Read more Reddit may have a search edge social rivals lack<\/a><\/p>\n

That stopped when Iranian drones hit a series of tankers trying to pass through the Strait of Hormuz. The Trump Administration promptly retaliated, and President Donald Trump declared the ceasefire, signed on June 17, dead.\u00a0<\/p>\n

Related: As Middle East tensions explode, oil and gas prices reset<\/a><\/strong><\/p>\n

So, prices moved up. GasBuddy\u2019s<\/a> price was $3.853 per gallon on July 10, up 3.6% since bottoming on July 5. The price was down 15.6% from its May 20 peak – but still up nearly 37% for the year.<\/p>\n

AAA\u2019s national average on July 10<\/a> was $3.884, up 2.1% from the July 5 low and also up nearly 37% in 2026.\u00a0<\/p>\n

The price increases came even as the Trump Administration vaguely threatened<\/a> gas station operators if they didn\u2019t start cutting prices.<\/p>\n

Crude oil, meanwhile, jumped a combined 7.3% on July 7 and 8 before slipping back to $75.22 per 42-gallon barrel on July 10.\u00a0<\/p>\n

The price decline came as White House said July 10 that Iran and the United States will start to talk again about a permanent peace. But the U.S. won\u2019t adhere to a ceasefire.\u00a0<\/p>\n

Axios said<\/a> a new round of talks may start next week, \u201cpossibly in Switzerland.\u201d<\/p>\n

Nonetheless, crude oil<\/a> was up 4.3% for the week, according to Wall Street Journal data<\/a>.<\/p>\n

More Oil & Gas:<\/strong><\/p>\n

But a second issue is now adding to the pressures on oil prices and motor-fuel prices.\u00a0<\/p>\n

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Ukraine\u2019s recent drone attacks on Russian oil refineries have been so successful that they have triggered a widespread fuel crisis<\/a> in Russia. Gasoline shortages and rationing in multiple regions have forced motorists to wait for hours to fill their tanks.<\/p>\n

If there is any fuel available.<\/p>\n

That\u2019s an astonishing situation given that Russia has 80 billion barrels of proved oil reserves, 9th most in the world<\/a>.<\/p>\n

The drone attacks have damaged refineries outside Moscow, Russia\u2019s capital. Two drones set two oil tankers ablaze<\/a> in the Sea of Azov, a small body of water just north of the Black Sea.\u00a0<\/p>\n

Another drone attack in the last week even hit a refinery in Omsk, in western Siberia.\u00a0<\/p>\n

Omsk is 2,240 kilometers east of Moscow. That\u2019s about 1,400 miles, the distance from New York to Dallas, Texas.\u00a0<\/p>\n

The situation is so bad that Russia is now importing refined gasoline from India, Jeff Currie, a senior advisor to the Carlyle Group, told CNBC<\/a> on July 10.\u00a0<\/p>\n

Russia\u2019s economy has proved to be vulnerable to refinery attacks, Currie said.\u00a0<\/p>\n

Its refineries and the pipelines servicing them were developed during the Soviet era. Each refinery gets its oil from a sole pipeline. So, if a pipeline is broken to refinery, supply can\u2019t be rerouted, Currie added.<\/p>\n

The result is the shortages not seen in the United States since the 1970s.<\/p>\n

Related: Starbucks tries something it failed at before<\/a><\/strong><\/p>\n

The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.<\/i><\/p>\n

Read more Lindsey Graham, South Carolina Senator and Trump Ally, Dead at Age 71<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

If you thought gasoline prices were moving higher this week, you\u2019d be right.<\/p>\n","protected":false},"author":1,"featured_media":4444,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-read-todays-edition"],"yoast_head":"\nThe war driving up gas prices isn\u2019t the one you think - Durham Moving Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/durhammovinghub.com\/?p=4445\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The war driving up gas prices isn\u2019t the one you think - Durham Moving Hub\" \/>\n<meta property=\"og:description\" content=\"If you thought gasoline prices were moving higher this week, you\u2019d be right.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/durhammovinghub.com\/?p=4445\" \/>\n<meta property=\"og:site_name\" content=\"Durham Moving Hub\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-12T10:03:50+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/durhammovinghub.com\\\/?p=4445#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/durhammovinghub.com\\\/?p=4445\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/durhammovinghub.com\\\/#\\\/schema\\\/person\\\/bf1f081e7f06a3ab66052e5f6015fd85\"},\"headline\":\"The war driving up gas prices isn\u2019t the one you think\",\"datePublished\":\"2026-07-12T10:03:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/durhammovinghub.com\\\/?p=4445\"},\"wordCount\":591,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/durhammovinghub.com\\\/?p=4445#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/durhammovinghub.com\\\/wp-content\\\/uploads\\\/2026\\\/07\\\/24060d6968fc083fc524ca32d4e7f949.jpg\",\"articleSection\":[\"Read today's Edition\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/durhammovinghub.com\\\/?p=4445#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/durhammovinghub.com\\\/?p=4445\",\"url\":\"https:\\\/\\\/durhammovinghub.com\\\/?p=4445\",\"name\":\"The war driving up gas prices isn\u2019t the one you think - 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